Google will now open Meridian, the company’s marketing mix modeling measurement system, which will become available to all marketers and data scientists globally.
A certified partner program with more than 20 measurement experts also will launch. These experts have been trained and certified to support advertisers in implementing Meridian.
Google said its goal for Meridian is to help advertisers understand their marketing efforts, but also contribute to the industry as a whole by introducing new, innovative methodologies for advertisers to be able to measure against.
In the coming months, Google will continue to add new features and improve the methodology, and make the platform available by downloading its code on GitHub.
Google tested Meridian with hundreds of brands globally and incorporated their feedback. Harikesh Nair, senior director of data science at Google, believes Meridian is now ready for everyone to take advantage of its benefits.
Brands like Finder, an Australian financial company with presence in the U.K., U.S. and Canada, gained insights because of the ability to customize the platform.
Nair wrote in a blog post that traditional models “lack a modern approach, which may lead to inaccurate budget decisions."
They may not update assumptions based on incrementality experiments or provide granular insights, such as optimal frequency or regional nuances.
Using a more modern approach found in Meridian can help drive better business outcomes.
It relies on Bayesian causal inference that allows advertisers to combine prior knowledge with real-world data to gain the true incremental impact of marketing.
Meridian was built to help marketers uncover the true value of performance with more data like impressions, clicks, and cost, as well as Google query volume.
The MMM is an open-source modeling framework that offers full transparency and allows marketers to examine its code and methodology.
To make accurate budget decisions, Meridian analyzes campaign performance based on the key performance indicators to help make sense for business numbers such as sales, website visits, and conversions.
MMMs have historically measured video in impressions, but Google says impressions only tell part of the story. For example, 10 impressions could mean that 10 people reached, or one person reached 10 times.
Meridian integrates incrementality experiment results as priors, agnostic of the channel or the experiment, according to Google.